Production of value and entrepreneurial strategies of Chiang Mai startups under neoliberal market economy

Abstract

This thesis focuses on the process of becoming a new entrepreneur in Chiang Mai under the neoliberal market economy by negotiating with various market actors to transform themselves from workers to startups through an in-depth field study as well as interviews with small to medium sized entrepreneurs. These startups are attempting to produce social and economic capital to sustainably scale up their business size. Additional interviewing of other actors in the startup ecosystem is also provided. This thesis was started as an effort to provide a critical analysis of the neoliberal discourse based on the general economic rationality that markets can freely manipulate and regulate themselves by turning, instead, to an emphasis on an analysis of the negotiating strategies of various market actors rather than focusing solely on the market structure, especially the startup business owners in Chiang Mai. The emphasis will be on clients and organizations that support them as a startup ecosystem, such as incubators for the promotion of contemporary businesses, financial institutions, educational institutions, and online communications in various forms, etc. The research on the above issues began with three questions: 1) What kinds of economic or social value startups can generate? 2) Why each type of startup firm must negotiate for different kinds of capital. 3) How each type of startup firm develops their strategies to transform themselves into a successful and sustainable entrepreneur. By examining various startup strategies and practices to produce economic value through a negotiation process to access various types of capital, this study can provide responds to the questions raised above. Such analysis also provides a way to understand the potential of those startup firms on how they develop their strategies that help them become a successful and sustainable entrepreneur. The important findings can be clearly discussed through the two following arguments: First, negotiation networking is a collaborative approach to market relationship that produces social capital and social invention. Second, cultural strategies based on the value of intimacy help promote business networks in fostering the development of social creativity. The above key findings suggest several significances of this study. The startup ecosystem's function in developing social capital, which improves young entrepreneurs' knowledge, skills, and financial backing, can first be understood. Second, comprehending the many business models employed by various Chiang Mai startups, which have no relation to the neoliberal market discourse. While such discourse solely emphasizes technological innovation and the goal of profit maximization, some startup firms are still working to develop alternative approaches to social innovation. Finally, comprehension of the theoretical relevance that offers new alternative perspectives on studying startups in the future that puts a stronger emphasis on cultural, social, and economic interactions.